First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Large Increase in Short Interest

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC - Get Free Report) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 435,700 shares, an increase of 54.8% from the February 13th total of 281,500 shares. Based on an average daily volume of 165,600 shares, the short-interest ratio is presently 2.6 days. Currently, 2.2% of the shares of the company are sold short.

First Trust NASDAQ 100 Technology Index Fund Stock Up 0.9 %

QTEC traded up $1.67 on Wednesday, hitting $183.27. The company's stock had a trading volume of 151,884 shares, compared to its average volume of 183,604. The company's 50 day simple moving average is $194.20 and its 200-day simple moving average is $193.01. The firm has a market cap of $3.67 billion, a P/E ratio of 30.18 and a beta of 1.17. First Trust NASDAQ 100 Technology Index Fund has a 12 month low of $164.27 and a 12 month high of $211.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP boosted its holdings in First Trust NASDAQ 100 Technology Index Fund by 2.1% in the 4th quarter. First Trust Advisors LP now owns 4,296,257 shares of the company's stock worth $808,899,000 after buying an additional 90,302 shares during the period. Raymond James Financial Inc. bought a new position in First Trust NASDAQ 100 Technology Index Fund in the 4th quarter valued at $93,018,000. Envestnet Asset Management Inc. boosted its holdings in First Trust NASDAQ 100 Technology Index Fund by 4.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 187,171 shares of the company's stock valued at $35,240,000 after purchasing an additional 7,828 shares during the period. JPMorgan Chase & Co. boosted its holdings in First Trust NASDAQ 100 Technology Index Fund by 4.2% in the 4th quarter. JPMorgan Chase & Co. now owns 173,463 shares of the company's stock valued at $32,660,000 after purchasing an additional 6,922 shares during the period. Finally, Allworth Financial LP boosted its holdings in First Trust NASDAQ 100 Technology Index Fund by 10,886.7% in the 4th quarter. Allworth Financial LP now owns 131,401 shares of the company's stock valued at $26,582,000 after purchasing an additional 130,205 shares during the period.

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About First Trust NASDAQ 100 Technology Index Fund

The First Trust NASDAQ-100-Technology Sector Index Fund (QTEC) is an exchange-traded fund that is based on the NASDAQ-100 Technology Sector index. The fund tracks an equal-weighted index of the largest Nasdaq-listed US technology stocks. QTEC was launched on Apr 19, 2006 and is managed by First Trust.